I have received a call from HDSG & Associates and Sunil Goel & Co for articleship, I have just cleared my CPT in June'08 attempt.

Of these two which one has a better reputation and provide me good exposure to various fields in my articleship.

Please advise which one to choose...??

I have completed my 18 months of articled training as a prerequisite for appearing in MAY PCC 2008 exams. Also I have appeared in May PCE 2008, whose result is awaited. The result of which is expected to be negative.
Suppose I terminate my articled training from 10th Aug, 2008 onwards after getting signed from my principal exam form on 5th Aug, 2008 would I be eligible for Nov PCE 2008 exam. It may be noted that Nov PCC 2008 exam would be my 2nd attempt for PCE and it would be without articled training. I will not register for articleship again till I pass PCC.
Is it necessary that my articled training must continue for 2nd attempt till my giving Nov PCE 2008, even though I have completed 18 months articled training required for PCC exam on 01st Feb, 2008 ?
What could be negative consequences of terminating articleship.
email id: arpanmpatel@gmail.com

I have completed my 18 months of articled training as a prerequisite for appearing in MAY PCC 2008 exams. Also I have appeared in May PCE 2008, whose result is awaited. The result of which is expected to be negative.
Suppose I terminate my articled training from 10th Aug, 2008 onwards after getting signed from my principal exam form on 5th Aug, 2008 would I be eligible for Nov PCE 2008 exam. It may be noted that Nov PCC 2008 exam would be my 2nd attempt for PCE and it would be without articled training. I will not register for articleship again till I pass PCC.
Is it necessary that my articled training must continue for 2nd attempt till my giving Nov PCE 2008, even though I have completed 18 months articled training required for PCC exam on 01st Feb, 2008 ?
What could be negative consequences of terminating articleship.
email id: arpanmpatel@gmail.com

What is the present limit for getting exemption from registration under Central Excise?

In case of an educational Institution a development fund is created and it can be used for purchase of a machinery. The credit balance in the development fund is represented by an equal debit balance in a separate bank balance.

A machine has been purchased. The normal accounting entry would be, debit fixed asset and credit bank account.Now the question arises how to reduce the Development fund ledger balance as bank balance has already reduced due to payment made for purchase of a machine.

so query is:

If we debit Development Fund, which account is to be credited.

In an educational institution, no service tax is recovered or paid on its main activities. The Institute's income is also exempt under IT Act.

The Institute however carries out certain project activities being sponsored by outside agencies and the Institute earns some income. Services such rendered by the Institute under its project activities are subject to service tax.

Accordingly, the Institute is registered for this services under the Act.
For the first time it has paid service tax out of service tax earned on its project activities for the month of March 2008 after its registration. As required under the Act it has also filed return in April 2008 for the first half year period. """"No input tax credit was however taken so far.Though it paid Rs.20,000 as service tax on certain services (security, telephone, housekeeping, AMC etc.) availed by the Institute during 2007-08."""

On the other hand, Institute pays service tax - telephone bills, Security services, AMC contracts, Housekeeping services etc. Such services on which tax is paid cannot be clearly segregated as to relating to

(i)the Institute activities which is exempted from any service tax
(ii) project activities of the Institute (which is subject to service tax)

Problem:

Now in the month of July 2008 the Institute has further earned service tax (say Rs.50,000)on its project activities and it is required to be deposited by 07-08-2008. But now Institute wants to avail input service tax credit.

Please clarify

1. Whether the Institute can avail of input credit to the extent of 20% (Rs. 10,000)of Rs.50,000 service tax payable in August 2008 by
a. taking input credit from the service tax paid (say Rs. 8,000) from April 2008 to July 2008 on common services (telephone, security, housekeeping,AMC etc.)
b. taking input credit of balance Rs.2,000 (i.e.Service tax payable in August 2008 Rs.50,000 minus Rs.10, 000- {Rs.8,000 as per 'a' above and balance Rs.2000 from 2007-08) from the service tax paid (Rs.20,000)during 2007-08.


2. For availaing 20% input credit, What register/records are to be maintained. Please indicate under which section it is specified.

3.What is procedure for assessment.What is to be done for this?

4. Whether the institute can avail input credit of more than 20%. Please specify the section/ clause of the ACT and under what terms and conditions

If I am making the Interest Payment by passing Book Entries & Ded. TDS on same in March 2008 but Paying to Govt. Treasury on or before 31/10/2008. My Question is wheather Interest Debited will allowed as an Expenses in F.Y. 2007-2008

This is Atul Arora i have cleared my final exam nowwant to do my Industrial training in ABN Amro bank do i am allowed to do that and what are the other bank in which i can do that.

if there is any Vacancy just let me know on my email ID
atul_aarora@yahoo.co.in


Thnx

Dear Sir,
A persson earned ins commission.
whether he shoul pay tax on whole ammount earned as per TDS certificate or He can claim some expenses towards that income
If yes the what should b percentage because he is not maintaing books of account

Assessee filed return of loss and carried forward to next year. If assessing officer made addition in that year which is resulted set off of losses and Assessee has filed appeal to tribunal which is still pending is assessee take benefit of set off and carry forward of lossess?